Petters allegedly has $10M Vegas gambling losses

Article by: DAVID PHELPS , Star Tribune
Updated: October 7, 2008 - 10:30 AM

A receiver is appointed to run Petters' companies; more investors sue to recover money.

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smirkinatuOct. 6, 08 3:40 PM

It will all be fine for everyone. It is all fine, nice, and happy. Peace and Love for everyone. Here, have some, there is more than enough to go around.

MarkYountOct. 6, 08 3:41 PM

so the employees have ongoing employment....

swschradOct. 6, 08 4:09 PM

after all, Petters appears to have been running a classic scam, and possibly devolving to a Ponzi scheme. (jury will decide, innocent until proven guilty, your mileage may vary, etc.) I suspect the name that will survive, under somebody's ownership if the company gets liquidated for restitution, will be Polaroid.

gingermomOct. 6, 08 4:09 PM

is my hero. Twenty two pages of reality. I wonder what the $500,000 Petters took out of the PCI account was for? Travel plans perhaps?

jccnlcOct. 6, 08 4:11 PM

This twisted individual and his money-grabbing cohorts deserve no mercy.

alibi123Oct. 6, 08 4:16 PM

22 pages of what?

gingermomOct. 6, 08 4:27 PM

It's the latest FBI affidavit. She (Eileen) is the FBI special agent on the case. You can read it on the Strib site. It is ... no kidding almost unbelievable. Tomorrow should prove to be an interesting day in court. I wish I could be the a little mouse in the corner.

gingermomOct. 6, 08 4:34 PM

Do you still believe he's a good man?

gingermomOct. 6, 08 4:36 PM

my keyboard is too small today

laserhaasOct. 6, 08 4:46 PM

Paul Traub, Bain, Petters and gang are well versed in power grabs - that is how this unholy mess began. _ Until the investigations go to the sources of Traub, Bain, Reynolds, etc... all the shark frenzy will simply end up in the Federal BK Courts - where Traub, Bain, Romney etc are KINGS...